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The enactment on June 19, 2001 of the Uniform Principal and Income Act, EPTL 11-A-1 and the additions to the Prudent Investor Act of sections 11-2.3(b)(5) and 11-2.4 of the EPTL are the most recent steps New York has taken to allow fiduciaries to fully adopt contemporary investing techniques commonly referred to as “Modern Portfolio Theory.”

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